Myriad Genetics

Myriad Genetics, Inc. engages in the discovery, development, and marketing of transformative molecular diagnostic tests. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual's risk of developing a disease later in life. The Other segment offers testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients, and also includes corporate services. The company was founded by Walter A. Gilbert, Mark H. Skolnick, and Peter D. Meldrum in May 1991 and is headquartered in Salt Lake City, UT.

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Myriad Genetics reports robust Q4 growth and eyes market expansion

Myriad Genetics showcased strong revenue growth and strategic initiatives to drive profitability in Q4 2022.
The company's focus on customer engagement, product volumes, and market positioning reflects a commitment to growth and operational excellence.
Challenges in managing competition and optimizing operational efficiency are balanced by opportunities for revenue growth and market expansion.

Myriad Genetics reports strong Q1 earnings, eyes profitability in Q4

Myriad Genetics demonstrated robust performance in Q1, leveraging strategic partnerships and operational improvements to drive revenue growth and enhance testing volumes.
While facing challenges like billing issues and seasonality-related declines, the company remains focused on core products, profitability, and growth opportunities.
With a strong financial outlook, emphasis on innovation, and commercial initiatives, Myriad Genetics is well-positioned to capitalize on market opportunities and drive sustainable growth.

Myriad Genetics reports solid Q2 growth and strategic focus

Myriad Genetics showcased strong financial performance, operational efficiencies, and strategic focus on growth and profitability.
While facing challenges like milestone payment concerns and industry competition, the company's strengths in key segments and operational capabilities position them well.
Opportunities in product enhancements, channel expansions, and investor engagement pave the way for continued success and market leadership.

Myriad Genetics reports strong Q3 earnings and raises 2024 guidance

Myriad Genetics reported strong revenue growth and operational improvements, with a focus on key product lines and enhancing customer experience.
The company raised financial guidance for 2023 and introduced revenue guidance for 2024, showcasing confidence in achieving long-term growth targets.
Challenges include regulatory changes, market penetration, and maintaining profitability amidst competitive dynamics, while opportunities lie in sustained growth and revenue optimization.
Overall, Myriad Genetics demonstrated resilience and strategic focus in driving growth, improving margins, and navigating market challenges effectively.

Myriad Genetics reports strong Q4 performance and eyes market expansion

Myriad Genetics delivered a strong Q4 performance with a focus on growth, strategic investments, and operational improvements. The company faces challenges in pricing and reimbursement but sees opportunities in market expansion and new product launches. Overall, Myriad Genetics is optimistic about its future prospects and market positioning.

Myriad Genetics reports robust Q1 performance and eyes growth opportunities

Myriad Genetics delivered a strong quarter with revenue growth and positive EBITDA, focusing on strategic areas like oncology and women's health. The company is optimistic about exceeding guidance but remains cautious. Analysts raised inquiries about various segments and operational decisions, with the company emphasizing profitable growth and maintaining margins.

Myriad Genetics reports strong Q2 performance and raises revenue targets

Myriad Genetics delivered a robust Q2 performance with revenue growth, positive earnings, and strategic wins in payer coverage, setting the stage for continued growth.
The company's focus on efficiency, customer satisfaction, and profitable growth positions it well for future success amidst market challenges and opportunities.
With raised revenue targets, expanded market acceptance, and operational excellence, Myriad Genetics demonstrates resilience and adaptability in a dynamic healthcare landscape.

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Myriad Genetics (MYGN) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to earnings of $0.04 per share a year ago.

Myriad Genetics (MYGN) Reports Q2 Loss, Misses Revenue Estimates

Myriad Genetics, Inc. (NASDAQ:MYGN ) Q2 2023 Results Conference Call August 3, 2023 4:30 PM ET Company Participants Matt Scalo - Senior Vice President, Investor Relations Paul Diaz - President and Chief Executive Officer Bryan Riggsbee - Chief Financial Officer Nicole Lambert - Chief Operating Officer Mark Verratti - Chief Commercial Officer Conference Call Participants Matt Sykes - Goldman Sachs Andrew Cooper - Raymond James Jack Meehan - Nephron Research Operator Greetings, and welcome to the Myriad Genetics Second Quarter 2023 Financial Earnings Call [Operator Instructions]. As a reminder, this conference is being recorded Thursday, August 3, 2023.

Myriad Genetics, Inc. (MYGN) Q2 2023 Earnings Call Transcript

Highlights: Second quarter testing volume grew 17% year-over-year , excluding contributions from the SneakPeek ® Early Gender DNA Test. In the second quarter: Hereditary cancer test volumes grew 20% year-over-year, the third consecutive quarter of double-digit growth year-over-year.

Myriad Genetics Reports Second Quarter 2023 Financial Results and Reaffirms 2023 Revenue and Adjusted EPS Guidance; Generates the Fourth Consecutive Quarter of Double-Digit Year-Over-Year Testing Volume Growth

SALT LAKE CITY, July 27, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, will hold its second quarter earnings conference call on Thursday, Aug. 3, 2023 at 4:30 p.m. ET. The company's quarterly earnings will be released the same day after the market closes.

Myriad Genetics to Release Second Quarter Financial Results on Aug. 3, 2023

RiskScore is the first validated risk model that includes breast density, personal/family history and genetic markers This comprehensive model is expected to identify more patients that could benefit from a change in their breast care SALT LAKE CITY, July 24, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced its MyRisk® Hereditary Cancer Test with RiskScore®  now incorporates breast density using Tyrer-Cuzick version 8 (TCv8) to provide patients and providers with a more comprehensive look at their five-year and remaining lifetime risk for breast cancer. MyRisk with RiskScore is the first breast cancer risk model that includes breast density, personal/family clinical history and a polygenic risk score (PRS) based on genetically determined ancestry.

Myriad Genetics Announces Inclusion of Breast Density to MyRisk® with RiskScore® Breast Cancer Risk Assessment

SALT LAKE CITY, July 06, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced that it has established a new $90 million asset-based credit facility (the “ABL Facility”) with JPMorgan Chase Bank, N.A. as administrative agent and issuing bank, and the other lender parties thereto consisting of Wells Fargo Bank, N.A. and Bank of America, N.A. The ABL Facility includes an option to increase the maximum principal amount by up to $25 million for a total of $115 million.

Myriad Genetics Announces New $90 Million Asset-Based Credit Facility

Myriad Genetics' (MYGN) collaboration with medical imaging provider, SimonMeD, is expected to advance precision medicine with a new hereditary cancer assessment program.

Myriad Genetics (MYGN) Test Volume Rises Amid Margin Woe

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Myriad Genetics (MYGN) announces research collaboration with MD Anderson on metastatic RCC with its high-definition MRD research testing platform based on whole-genome sequencing.

Myriad Genetics' (MYGN) New Pact to Use MRD Testing Platform

Myriad to support MD Anderson researchers studying metastatic renal cell carcinoma treatment selection and response Myriad to support MD Anderson researchers studying metastatic renal cell carcinoma treatment selection and response

Myriad Genetics Announces Research Collaboration to use Minimal Residual Disease Testing Platform

SALT LAKE CITY, June 07, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced Paul J. Diaz, president and CEO, will participate in the 44th Annual Goldman Sachs Global Healthcare Conference with a fireside chat on Tuesday, June 13, 2023 at 2:00 p.m. PT.

Myriad Genetics to Participate in Goldman Sachs Healthcare Conference

SALT LAKE CITY, June 01, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, will be highlighting new studies and the recent expansion of its Precise™ Oncology Solutions portfolio at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting from June 2-6, 2023.

Myriad Genetics Highlights Latest Oncology Portfolio Advancements and New Data at ASCO 2023

SALT LAKE CITY, May 31, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced it has named Adam Brufsky, MD, PhD, FACP, as Scientific Advisor to its oncology business unit. In his new role, Dr. Brufsky is responsible for guiding clinical development and medical affairs to further elevate Myriad's Precise™ Oncology Solutions portfolio.

Adam Brufsky, MD, PhD, FACP Named Oncology Scientific Advisor to Myriad Genetics

Myriad Genetics (MYGN) expands Precise Oncology Solutions portfolio by adding a new biomarker test.

Myriad Genetics (MYGN) Adds New Test to Oncology Portfolio

Fintel reports that on May 24, 2023, Goldman Sachs maintained coverage of Myriad Genetics (NASDAQ:MYGN) with a Buy recommendation.

Goldman Sachs Maintains Myriad Genetics Buy Recommendation

Biomarker offers another companion diagnostic option to establish eligibility for FDA-approved drug ELAHERE® SALT LAKE CITY, May 24, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced the addition of Folate Receptor Alpha (FRα) to its Precise™ Oncology Solutions portfolio. The new biomarker adds another companion diagnostic option for providers to help guide treatment decisions for patients with ovarian cancer.

Myriad Genetics Adds Folate Receptor Alpha to Precise™ Oncology Solutions Portfolio to Expand Treatment Options for Women Living with Ovarian Cancer

Fintel reports that on May 23, 2023, Goldman Sachs upgraded their outlook for Myriad Genetics (NASDAQ:MYGN) from Sell to Buy.

Goldman Sachs Upgrades Myriad Genetics

SALT LAKE CITY, May 08, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced it has achieved the Great Place to Work® certification for 2023.

Myriad Genetics Earns 2023 Great Place to Work Certification™

Myriad Genetics (MYGN) delivers a year-over-year increase in first-quarter revenues, reflecting a positive volume improvement across the portfolio.

Myriad Genetics (MYGN) Lags Q1 Earnings, Updates '23 View

Highlights: First quarter testing volumes grew 21% year-over-year and 10% sequentially, excluding contributions from the SneakPeek ® Early Gender DNA Test. In the first quarter: Hereditary cancer test volumes grew 24% year-over-yea r, the second consecutive quarter of double-digit growth year-over-year.

Myriad Genetics Reports First Quarter 2023 Financial Results; Achieves 10% Revenue Growth Year-Over-Year, the Second Consecutive Quarter of Double-Digit Year-Over-Year Revenue Growth; Raises Mid-Point of 2023 Revenue Guidance Range

SALT LAKE CITY, May 02, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced it will be participating in the upcoming BofA Securities Healthcare Conference in Las Vegas, NV.

Myriad Genetics to Participate in BofA Securities Healthcare Conference

SALT LAKE CITY, April 26, 2023 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, will hold its first quarter earnings conference call on Wednesday May 3, 2023 at 4:30 p.m. ET. The company's quarterly earnings will be released the same day after the market closes.

Myriad Genetics to Release First Quarter Financial Results on May 3, 2023

Myriad Genetics (MYGN) and Intermountain Precision Genomics receive the New York State Clinical Laboratory Permit to offer solid tumor testing to patients in all 50 U.S. states.

Myriad Genetics (MYGN) Gets Permit to Expand Tumor Testing

Medication failure leads 45% of respondents with depression and/or anxiety to turn to unhealthy coping mechanisms Medication failure leads 45% of respondents with depression and/or anxiety to turn to unhealthy coping mechanisms

77% of Americans have used addictive behaviors or unhealthy coping mechanisms to manage their mental health, according to Myriad Genetics nationwide survey

Intermountain Precision Genomics Laboratory receives certification from NYS Department of Health Clinical Laboratory Evaluation Program Intermountain Precision Genomics Laboratory receives certification from NYS Department of Health Clinical Laboratory Evaluation Program

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